Sukanya Samriddhi Yojana: The Central Government’s Sukanya Samriddhi Yojana has become a reliable option for parents who want to secure their daughters’ future. This scheme has been specifically designed to address key expenses like their daughters’ education and marriage. Investments are completely safe, and returns are guaranteed by the government.

The scheme’s popularity is primarily due to its stable interest rates, tax exemptions, and tax-free maturity. With long-term investments, this scheme provides significant financial support.

SSY Account Opening Rules

A Sukanya Samriddhi Yojana account can only be opened in the name of a daughter under the age of 10. Either the mother or the father can open this account in their own name. A minimum annual deposit of Rs. 250 and a maximum of Rs. 1.5 lakh can be made into this account.

This scheme requires investment for only 15 years, while the account matures in 21 years. This means that no new deposits are required in the final six years, but interest on the previously deposited amount continues to accrue.

How much interest is earned under the SSY scheme?

Currently, the Sukanya Samriddhi Yojana offers an annual interest rate of 8.2 percent. This interest rate is determined quarterly by the central government. The invested amount is eligible for tax exemption under Section 80C of the Income Tax Act, and the entire maturity amount is completely tax-free.

How much money will be earned on a monthly deposit of Rs. 2,000?

If a parent deposits Rs. 2,000 every month in the Sukanya Samriddhi account, the annual investment will be Rs. 24,000. Thus, the total investment amount over 15 years will be Rs. 3.6 lakh.

If the average interest rate remains at 8.2 percent and compounding occurs as per government regulations, the maturity amount at the end of the 21-year term could be between ₹9.6 lakh and ₹10 lakh. Despite the low investment, this amount grows because interest continues to accrue even in the final six years.

Funds created with low and high investments

The maturity amount in the Sukanya Samriddhi Yojana varies depending on the investment amount. Investing ₹1,000 every month can generate a fund of approximately ₹5 lakh after approximately 21 years. A monthly deposit of ₹3,000 can increase this amount to approximately ₹1.5 million.

If a parent deposits ₹4,000 every month, the maturity amount is estimated to be approximately ₹19 to ₹20 lakh. Similarly, investing ₹5,000 every month can generate a corpus of approximately ₹24 to ₹25 lakh.

How the Sukanya Samriddhi Yojana Account Balance Grows

If a person invests Rs. 5,000 per month, or Rs. 60,000 annually, the account balance, after interest, grows to approximately Rs. 64,800 at the end of the first year. If the investment continues, the balance reaches approximately Rs. 3.6 lakh in 5 years.

After 10 years, this amount reaches approximately Rs. 8.75 lakh. After 15 years of investment, the balance reaches approximately Rs. 19.8 lakh. Even if the investment stops after this, the interest continues to accrue, and the maturity amount can reach approximately Rs. 24.5 lakh in 21 years.

When can you withdraw money from the SSY Scheme?

The full amount in the Sukanya Samriddhi Yojana is available after 21 years of account opening. However, 50 percent of the amount deposited in the account can be withdrawn for the daughter’s higher education when she turns 18. The remaining amount is disbursed upon maturity.

Why is it special for parents?

This scheme comes with a full government guarantee, so the risk is extremely low. Its interest rate is considered better than fixed deposits and many other savings schemes. Tax benefits and tax-free returns make it even more attractive. Most importantly, this scheme helps in building a timely and assured fund for the future of daughters.